Commonwealth Equity Services LLC Grows Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Commonwealth Equity Services LLC boosted its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,872 shares of the company’s stock after buying an additional 1,289 shares during the period. Commonwealth Equity Services LLC’s holdings in PENN Entertainment were worth $965,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PENN. GAMMA Investing LLC raised its stake in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after buying an additional 1,009 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in PENN Entertainment in the fourth quarter valued at $40,000. J.Safra Asset Management Corp acquired a new position in shares of PENN Entertainment during the 2nd quarter worth $83,000. TFO Wealth Partners LLC lifted its stake in shares of PENN Entertainment by 123,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after purchasing an additional 3,691 shares during the period. Finally, Blue Trust Inc. grew its position in PENN Entertainment by 18.3% during the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after buying an additional 1,555 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Anuj Dhanda acquired 15,000 shares of PENN Entertainment stock in a transaction on Friday, September 6th. The shares were bought at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The disclosure for this purchase can be found here. Insiders have bought a total of 79,200 shares of company stock worth $1,450,548 in the last three months. 2.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Thursday, August 8th. Morgan Stanley dropped their price target on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Barclays boosted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Susquehanna restated a “positive” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, June 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and a consensus target price of $23.77.

PENN Entertainment Price Performance

PENN opened at $19.78 on Wednesday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50 day simple moving average is $18.95 and its 200 day simple moving average is $17.93. The stock has a market capitalization of $3.02 billion, a PE ratio of -2.66 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $0.48 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.41 EPS for the current year.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.